Should I even bother paying my C.C.

[MJamesB80]

I have not paid Chase for what is listed as a "mortgage" in 2 yrs now. I originally borrowed money for a rental property that was just not worth the money or time.
Now they have deactivated my Chase credit card. I have always paid this off in full at the end of the month. Never late. I currently have $1400 balance on the card.
My credit is already ruined. So what is my motivation to pay this $1400 off? Credit already ruined. Already get 7 calls a day from Chase Mortgage.

What would you do about the credit card balance?

::And I want to redeem my credit card rewards points dang-it!!::

[DebtHater]

Because your credit is already ruined you're going to blow off a mere $1400 bill over a rental property you lost interest in? That sounds selfish.

What are you intentions? To bankrupt over $1400 or are there other debts?

What I would do over the balance? If I had the ability to pay it I would pay it. Based on the information given bankruptcy is not warranted and it sounds to be that by filing would be taking the easy way out in this circumstance.

[mrskal]

I think the OP is stating they have not paid the mortgage on a rental property in 2 years, probably has to file BK ayway.

If that is the case, I would have stoped paying the card.

[MJamesB80]

Bank Loan = $56k for a business venture that went nowhere. (Rental property)
Rental property worth = $26K (at best)
NO WAY am I coming up with $30,000 on my own to pay for that crappy house in the hood. So I'm basically just walking away from that whole mess.
Sure, I could pay the $1,400 off as I have done each month. But what do I gain from doing that now? They still won't activate the credit card again.
Selfish? Who cares...?
So my intention would be to file bankruptcy over the rental property. But, heck, if I already owe them $56K, what is another $1400?

Thanks for advising!

[Pandora]

I guess the first question is if you're considering filing BK - is what chapter do you qualify for? Therein lies the difference...

Also - you cant just file for just your rental property - when you file BK, its for all of your debts. You can pay some outside of BK, but they're all counted in some way shape or form.

[MJamesB80]

Chapter 7 for me.
I own a cheap vehicle and that is it. Nothing else is in my name.

Pandora - Yes, I understand that the BK would be for all debts. That is why I ask the question: Why bother paying off the credit card?
Thanks again for your input.

I am open to your suggestions.

[Pandora]

I guess only you can make the decision if BK is the right means for you. You know what debt you have (or dont have) so really the question can only be answered by you.

[CnsntWithdrn]

Bank Loan = $56k for a business venture that went nowhere. (Rental property)
Rental property worth = $26K (at best)
NO WAY am I coming up with $30,000 on my own to pay for that crappy house in the hood. So I'm basically just walking away from that whole mess.
Sure, I could pay the $1,400 off as I have done each month. But what do I gain from doing that now? They still won't activate the credit card again.
Selfish? Who cares...?
So my intention would be to file bankruptcy over the rental property. But, heck, if I already owe them $56K, what is another $1400?

Thanks for advising!

Walk away

[MJamesB80]

Thanks for advising guys!
If anyone else has any input, please feel free.